Our New York City office is now open! Located in Midtown- 1740 Broadway 15th Floor, New York, NY 10019
As we approach the end of the year, getting ready for the upcoming tax season is crucial. This is especially true for those in the cannabis industry, which comes with its own set of challenges. The tax season is set to start in early 2024, and it requires careful planning and an understanding of the […]
In general, income can be received in three ways – money, services, and property – and IRS requires you to declare most of this income on your tax return. Income is taxable unless specifically exempted by law, and in some cases, even nontaxable income must be disclosed on your tax return. Taxable Income Typically, the […]
The IRS has begun accepting and processing 2022 tax year return filings as of January 23rd 2023. Please note FEDERAL INCOME TAX filing deadlines for calendar year taxpayer are as follows in 2023 for the 2022 tax year: PARTNERSHIPS AND S CORPS:Returns due on March 15,2023, Extended due date September 15, 2023.Please note that […]
THE CANNABIS EQUITY TAX CREDIT One of the goals of California Assembly Bill 195, signed into law by Governor Gavin Newsom on June 30, 2022, was to bring tax relief to the cannabis industry, a class of businesses notoriously challenged by heavy taxes. To this end, the Franchise Tax Board is currently offering two tax […]
THE HIGH-ROAD CANNABIS TAX CREDIT On June 30, 2022, Governor Gavin Newsom signed California Assembly Bill 195 into law, a bill specific to the cannabis industry. One of the goals of this bill was to bring tax relief to a class of businesses notoriously challenged by heavy taxes. To this end, the Franchise Tax Board […]
Each year, the IRS unveils its list of scams that target unsuspecting taxpayers. Below are five of the most common tax scams impacting taxpayers today, as well as tips to not become a victim: Pandemic-related scams. Criminals still use the COVID-19 pandemic to steal people’s money and identity with phishing emails, social media posts, phone […]
